02 July 2015
Laurel Powers-Freeling is to join the Board of Atom, the UK’s newest bank, as its senior independent Non-Executive Director.
The appointment comes hot on the heels of Atom’s announcement that the Prudential Regulation Authority and the Financial Conduct Authority have approved its digital business model.
Ms Powers-Freeling was recently appointed as Chairman of Sumitomo-Mitsui Banking Corporation Europe, and brings a deep and wide-ranging expertise of banking and financial services. Formerly CEO of Marks & Spencer Money, she has also held senior executive roles at Lloyds TSB, American Express and the Prudential. From her current and recent Non-Executive roles, Laurel brings experience from the Bank of England, the Bank of Ireland and C Hoare and Co Private Bank.
Anthony Thomson, Chairman of Atom, said:
“I am absolutely delighted that Laurel is joining the Atom Board as our senior independent non-executive. It is another vote of confidence in Atom that we can attract someone of Laurel’s quality, standing and experience. Working alongside our non-executive team of Bridget Rosewell, Patricia Jackson, John Deane and Jon Hogan I am confident that Laurel will help to steer Atom to success.”
Announcing her decision to join the Atom Board, Laurel Powers-Freeling said:
“Atom is a hugely exciting prospect. The combination of a great team, innovative technology and analytics combined with the confidence of the regulators in its business model makes it a pleasure to accept Anthony’s offer to join the Board. There’s a huge amount for the Board and the Executive of a new bank to accomplish, however given the progress to date I am sure we will succeed in delivering a genuinely different approach to banking that customers actually like. There’s a lot of noise about challengers in the UK retail market, but I’m joining Atom bank because I believe it’s the ‘real deal’”
The appointment is subject to approval and final confirmation by the PRA and FCA.
Editors notes: Atom is a start-up bank, not yet launched, but recently authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.
Founded a year ago and based in the City of Durham, Atom has a growing team of 100 people drawn from across the country, working with partners to bring pioneering technology to Europe. Atom is building the UK’s first bank designed specifically for digital, offering easy and convenient banking, along with unique and engaging ways to manage money.
The Atom executive team is highly experienced, having built and run some of the most well-respected banks in the UK. CEO Mark Mullen has 25 years experience in the sector and was previously CEO at the multi-award winning telephone and internet bank first direct.
The team is supported by a strong non-exec board, which includes founder and Chairman Anthony Thomson, also the founder and former Chairman at Metro Bank. He is Chairman of the Financial Services Forum, the UK’s leading membership organisation for senior FS industry executives and Chairman of the National Skills Academy for Financial Services, a national charity.
For more information visit atombank.co.uk. Full details of the extent of our authorisation by the PRA can be found on the Financial Services Register.